Kraft HQ to close
Cheltenham has been hit with another blow, after American food giant Kraft announced plans to close it's head office.
It follows their controversial takeover of chocolate firm Cadbury's.
Kraft says it will provide support to it's 400 staff in the town during the move, which will take place over the next 18 months.
The firm plans to integrate its office network to be located at its Bournville site in Birmingham and at Uxbridge, north west London, which was the previous Cadbury head office.
In a statement President of Kraft Foods, Nick Bunker, said:
"We would be very sad to leave Cheltenham and we would provide significant resources to support employees from all affected sites during the move. However, the business rationale is
"Having our R&D, customer service and support functions working side-by-side will enable us to share more insights, act more quickly and execute more flawlessly, thereby accelerating our growth.
"While the business case is clear, we need to support our people. We have highly talented employees across all our sites and we would aim to support as many as possible to relocate.
"We will consult fully with all affected individuals about the implications and options available before a final decision is taken and allow as much time as we can for people to plan.''